March 15, 2024 7:43am

It’s like a wine tasting, sip with a buy signal or spit with a sell signal or just swirl

Pre-open Indication: 1 positive and 1 Negative Indications

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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

I answer or qualify the sector’s equity’s movement; with an emphasis on which company is gaining or losing stride in their portfolio for the short-term

 

Friday: The pre-open Dow futures are UP +0.12% or (+47 points), the S&P futures are UP +0.20% or (+10 points) as the Nasdaq futures are UP +0.19% or (+34 points)

Stock futures inched higher Friday,

European markets were slightly higher,

Asia-Pacific markets plunged.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes closed down after the release of hotter-than-expected U.S. inflation data sent Treasury yields higher with the Dow closing down -137.66 points or -0.35%, the S&P closed DOWN -14.83 points -0.29% while the Nasdaq closed DOWN -49.24 points or -0.30%

Economic Data Docket:  consumer sentiment, import prices and industrial production

  • University of Michigan consumer sentiment, March preliminary (77.0 expected, 76.9 previously); Import prices, month-over-month, February (+0.2% expected, +0.8% previously); Export prices, month-over-month, February (+0.1% expected, +0.8 previously); Industrial production, month-over-month, February (+0.0% expected, -0.1% previously)

 

52-week low:

uniQure NV (QURE) at $4.85

 

Thursday’s night RegMed Investors (RMi) Closing Bell: “the cell and gene therapy sector gets squeezed dry as another hot inflation gauge hits its highest level. A similar “happening” when CPI was announced; inflation served up multiple reminders this week and month that they aren’t going-away anytime soon.” … https://www.regmedinvestors.com/articles/13372    

 

Q1/24: march – 3 positive and 7 negative closes

  • February – 1 market holiday, 11 positive and 9 negative closes
  • January: 2 holidays, 11 negative and 8 positive closes

 

Companies in my headlights – It’s your decision; I provide ideas and context:

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

Negative Indication:

Thursday, Wednesday, Tuesday, Monday and last Friday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Editas Medicine (EDIT) closed down -$0.44 with a negative -$0.05 or -0.61% pre-open indication.

 

Positive Indications:

Thursday, Wednesday, Tuesday, Monday and last Friday’s closing “numbers” with aftermarket/pre- market dollar ($) and cent ($0.00) value and percentage (%)

Intellia Therapeutics (NTLA) closed down -$1.15 with a positive +$0.28 or +1.02% pre-open indication.

 

The BOTTOM LINE: The pre-open seems bleak; as the title articulates … sip or spit!

  • When the major indexes are moving sideways, some stocks will flash buy signals but often will soon pull back, testing or undercutting the entries. <IBD>
  • It may be a time for investors to pause as well, holding significant exposure but with cash on hand.
  • Cut losses quickly and consider taking some profits.

March has had 3 positive and 7 negative cell and gene therapy sector closes:

  • Thursday closed with a negative 3 incliners, 30 decliners and 2 flats
  • Wednesday closed with a positive 21 incliners, 13 decliners and 2 flats
  • Tuesday closed with a negative close of 6 incliners, 27 decliners and 2 flats
  • (3/11) Monday closed with a negative close of 7 incliners, 28 decliners and 0 flat,
  • last Friday closed with a negative close of 16 incliners, 19 decliners and 0 flat,
  • Thursday closed negative close of 16 incliners, 17 decliners and 2 flats
  • Wednesday closed positive with 21 incliners, 14 decliners and 0 flat,
  • Tuesday closed negative with 5 incliners, 29 decliners and 1 flat,
  • (3/4) Monday’s closed negative with 6 incliners, 27 decliners and 2 flats.
  • (3/1) Friday closed positive with 23 incliners, 10 decliners and 2 flats

 

The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.

25 (of 35 covered companies) have reported …13 are left to release earnings of my covered group.

 

There is ALWAYS a however, the cell and gene therapy sector is DUE a rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the oversold!!

I STILL reiterate, “Don't chase the cell and gene therapy sector.” Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

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From Thursday’s market:

  • Market breadth was anemic Thursday, with losers decisively besting winners.
  • The small-cap Russell 2000 tumbled 1.8%, cutting below the 21-day moving average and clearly below the late December highs.
  • The 10-year Treasury yield surged nearly 11 basis points to 4.3%, up 21 basis points so far this week and nearing the 2024 high of 4.35%.

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. All investments are subject to risks. Investors should consider investment objectives.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.  Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.